Direct Unsubsidized Stafford Loan

One six-month grace period after the student is no longer enrolled half time before repayment begins

Standard repayment is 10 years

Annual Maximums

$5,500

Dependent Undergrad Freshman

1-27 credits earned

$6,500

Dependent Undergrad Sophomore

28-59 credits earned

$7,500

Dependent Undergrad Junior and above

60+ credits earned

$20,500

Graduate Students

n/a

Independent students (per the FAFSA) and student's parents who have been denied the Federal Parent PLUS loan can borrow an additional Direct Unsubsidized Stafford Loan amount up to $4,000 for Freshman and Sophomore years, and $5,000 after that.

Cumulative Maximum Total Debt

The cumulative maximum for undergraduate students is $31,000 and $57,500 but no more than $23,000 can come from subsidized loans.

$31,000

Dependent Undergraduate Students

$57,500

Independent Undergraduate Students

$138,500

Graduate Students (includes amounts borrowed as undergrad students)

$20,500

Graduate Students

Interest Rates

4.45%

For Undergraduate Direct Subsidized and Unsubsidized loans between July 1, 2017 and June 30, 2018

3.76%

For Undergraduate Direct Subsidized and Unsubsidized loans between July 1, 2016 and June 30, 2017

6.0%

For Graduate Direct Unsubsidized loans disbursed between July 1, 2017 and June 30, 2018

5.31%

For Graduate Direct Unsubsidized loans disbursed between July 1, 2016 and June 30, 2017

Fees

Fees are deducted from the Direct Subsidized and Unsubsidized loan proceeds when they are disbursed.

1.069%

For loans first disbursed after October 1, 2016 and before October 1, 2017 (For example, on a $5500 loan, $58 will be kept as a loan fee and therefore $5,442 will be credited to the students account when it is disbursed to the school.)

1.068%

For loans first disbursed after October 1, 2015 and before October 1, 2016 (For example, on a $5500 loan, $58 will be kept as a loan fee and therefore $5,442 will be credited to the students account when it is disbursed to the school.)

The Federal Government requires that all first time Federal Direct Stafford Loan borrowers complete an entrance counseling session before they receive any loan funds. This session is designed to provide the borrower with important information about the Federal Direct Stafford Loan program, including your rights and responsibilities as a borrower.

Login clicking the green "Sign In" button located in the Manage My Direct Loan box in the upper left of the page if not already logged in

Select "Complete Entrance Counseling" on the left-hand side under the Counseling bullet

Exit counseling

Federal regulations require students to complete this once you graduate from Carroll or your enrollment drops below half time status

Provides the borrower with important information regarding your rights and responsibilities as a borrower.

Assists you on how to manage repaying your student loans and what you can expect